New York Passes Bill Temporarily Banning Bitcoin Mining

Lawmakers in the Empire State passed legislation prohibiting new bitcoin mining operations for at least two years. If signed into law by Gov. Kathy Hochul, New York would be the first U.S. state banning blockchain technology infrastructure. Proponents argue this would give the state time to study the impact this activity has on climate change since cryptocurrency mining uses a lot of power. However, this moratorium only impacts mining through carbon-based power sources.


Show More
Back to top button